Guitars Are Better Investments Than Homes
It’s official – guitars are better investments than homes, says rock ‘n roll memorabilia expert Ted Owen. They’re also better investments than stocks and shares. A 1958 Gibson Explorer bought for $247.50 was sold in 2006 for $611,000 That’s almost a 20% year on year annual return versus an average of 12% for the typical house or the 9% typically produced investing in shares. Adam Newman, manager of Vintage & Rare Guitars says, “Late fifties Les Paul Standards bought for a few hundred dollars could be worth over $300,000 while Pre-War Martin D45’s would fetch over half a million dollars now and bought for $200.” We knew there was a catch.